REUTLINGEN (dpa-AFX) - Manz Automation AG (MANZF.PK), a German engineering company, on Thursday reported a loss for the first half. However, the revenues improved from last year.
Earnings reflected negative impact of an impairment in the course of a defaulted insolvency claim in the solar sector, as well as surge in material costs, supply chain disruptions and associated postponements of in a major project.
Looking forward, for the fiscal 2022, the firm has revised down its previous guidance.
For the six-month period, the firm posted loss before interest and taxes at 6.9 million euros, compared with EBIT of 12.3 million euros of previous year period.
Loss before interest, taxes, depreciation, and amortization was at 1.1 million euros, compared with EBITDA of 18.1 million euros a year ago.
The Group revenues, however, improved to 126.7 million euros from last year's 114.4 million euros.
Looking ahead, for the fiscal 2022, the company now expects a revenue growth in the low to mid double-digit percentage range with an EBITDA margin in the low single-digit percentage range and balanced EBIT.
In its previous outlook provided in March, Manz had projected a significant increase in revenues in the mid double-digit percentage range with an EBITDA margin in the mid to upper positive single-digit percentage range and an EBIT margin in the low to mid positive single-digit percentage range.
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